The Ministry of Environment, Forest and Climate Change has published the Draft Green Credit Programme Implementation Rules, 2023. These Rules were published on 27th June, 2023
It may be recalled that the Government of India has launched a movement called ‘LiFE’ – ‘Lifestyle for Environment’ to address climate change and promote sustainable living based on conservation and moderation. The movement aims to propagate a healthy and sustainable way of life by integrating traditional values and practices with environment-friendly actions.
Recognizing the need for innovative market-based mechanisms to drive behavioral changes and incentivize sustainable lifestyles, the government has proposed the implementation of the Green Credit Programme.
The Green Credit Programme will serve as a national-level initiative and facilitate the trading of Green Credits, which act as incentives for adopting sustainable practices. These credits will be generated through a wide range of sectors and entities, including individuals, Farmer Producer Organisations, cooperatives, forestry enterprises, sustainable agriculture enterprises, urban and rural local bodies, private sector industries, and organizations.
In addition to incentivizing individual and community actions, the Green Credit Programme will also encourage private sector industries and entities to fulfill their existing obligations related to other legal frameworks by undertaking activities that align with the generation or purchase of Green Credits.
Furthermore, the Green Credit Programme recognizes the potential climate co-benefits of activities that generate Green Credits, such as the reduction or removal of carbon emissions. Activities qualifying for Green Credits under this program may also be eligible for Carbon Credits under the carbon market.
Therefore, the public is invited to provide objections or suggestions regarding the draft notification by 26th August, 2023. Individuals wishing to submit objections or suggestions may address them to the Joint Secretary, Ministry of Environment, Forest and Climate Change, Indira Paryavaran Bhawan, Jor Bagh road, New Delhi – 110003 or send them via email to [email protected].
